The Sub-Discipline of Economics That Focuses Especially on Individual Markets

question 8

Multiple Choice

The sub-discipline of economics that focuses especially on individual markets is:

• A) normative economics.
• B) positive economics.
• C) microeconomics.
• D) macroeconomics.
• E) econometrics.

Identify the impacts of gender stratification across various societies.

Analyze the effects of educational and familial environments on gender socialization.

Understand the intersections of gender with race, class, and ethnicity in societal roles and expectations.

Comprehend the implications of gender inequality in the workplace, including sexual harassment and occupational segregation.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay.

Demand Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity demanded by consumers over a period of time.

Consumer Surplus

The discrepancy between the entire sum buyers are ready and capable of paying for a product or service and what they really spend.

Marginal Utility

The additional satisfaction or benefit received by a consumer from consuming one more unit of a good or service.